On October 20th 2014, Bank of England experienced a disruption of the Real Time Gross Settlement system. After a 9-hour service disruption the system was restored, and an independent review was initiated to discover the cause(s) of the incident.

A recent report by the Federal Reserve Board has revealed new statistics of mobile banking usage. Mobile banking has become one of the most available forms of banking, accessible by those who normally wouldn’t have convenient access to banking facilities.

Samsung has no intentions of letting Apple or Google leave it behind in the mobile payments space. After introducing Samsung Pay to compete with the two tech giants’ mobile wallets, Samsung recently revealed patents for a smartwatch utilizing biosignal verification.

FIs and MNOs, in recent years, have attempted endeavors outside their primary competencies. Instead of spending resources on initiatives that stretch their capabilities, why not learn from another older industry instead?

Zumigo Corporation, Visa, and BillGuard are all taking steps to bring you safer transactions in this day and age through geo-location technologies. These include innovate solutions ranging from usage-location tracking, to GPS verification with a registered smartphone when making a purchase.

The contactless “Octopus Card” was originally launched as a way to pay for public transport in Hong Kong—it can now be used to make purchases at over 13,000 retail outlets and 6,000 service providers. Maybe there’s hope for a mainstream Apple Pay yet.

Bank of America has quite a few patents swimming around, and one of them seems to involve letting you “Facetime” a bank-teller from an ATM. This could lead to quicker and simpler troubleshooting and reduce wait times at your favorite local ATM.

PayPal almost got itself into a bit of trouble the other day, as a result of inadequate screening on a few transactions. The hiccup will cost PayPal a $7.7 million fine to the U.S. government, which has been cracking down on financial institutions as of late.

Oxigen is looking to expand, and it has its eyes set on the payments & remittance market. It is currently awaiting its payments bank license from the Reserve Bank of India, and wishes to be part of the Indian government’s financial inclusion program.

Ocean is studying Journalism, International Studies, and Japanese at the University of North Carolina at Charlotte. He is very interested in East Asian history and Pop-Cutlure, particularly concerning Korea, India, and Japan. Ocean has great interest in a vast range of technologies and enjoys reading up on cutting edge developments in his free time.

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